Dear IFRS List Folks
Hi I am a  Professor of Accounting at The University of Texas at EL Paso. I have been reading the many emails on this list and I wonder if any of you might be willing to tell me how the change to IFRS from their own GAAP has affected Debt covenants?
Thanks and Regards
Stephen

Hi Stephen,
regarding  to your request,  I don´t see any change on Debt covenants after IFRS application in Slovakia.  
However I´m not sure I understand your question correctly.  Could you describe deeper that case ?
I´m from  Slovakia (Midd Europe). We …

hi friends

 
i have a transaction in my company where goods sold and payment received in yr 2005  are now goods being bought back at a lower price. Sales team is insiting to treat it as a new purchase. I am little spectacle as to wheather it should be treated as a sales return or fresh purchase.
 
pls advise in the light of IAS how this should be treated. 
 
Best regards,
Sandeep

 
Dear Sandeep.
Please clarify the situation, why are the goods being bought back, are
these being bought back with the intention of re-selling it etc. I
think that the group would be able …

Hi,
I have just recently starting working in a country that is about to adopt IFRS (2009) and was wondering if anyone had had experience with possible violations to debt covenants during the transition period. I am guessing that clients will have to communicate with their banks about the impact IFRS will have on their outstanding debt and request a document stating that the banks will request the payment on demand in the case of a violation.
I am not sure if clients have realized this potential impact of going to IFRS, but …

Hi,

 
My name is Aashima Tandon. Can anybody tell me what exactly is asset held for sale and negative goodwill? What

Hi there,
sale?

Assets held for sale include assets (or groups of
assets to be disposed of) whose carrying amount will
be recovered principally through a sale transaction
rather than through continuing use.
What would be its treatment?
In accordance with IFRS (IFRS 5), discontinued
operations/assets held for sale are measured
at the lower of their carrying amount or fair value
less costs to sell.
Discontinued operations/assets held for sale are
presented in the financial statements as follows:
• On the balance …

Dear All
 
Please advise your views whether subject item does come under the scope of IAS 23 or IAS 39. The loan facility is repayable in 30 years and interest rate is variable interest rate and we hedge the interest rate by taking interest swap contracts with banks.
 
In case someone needs more facts to get to the bottom of the case, Please let me know.
 
with regards
Ram

Dear Ram,
My first reaction would be IAS 39 and not IAS 23 unless the case is that you want to capitalize these costs as part of …

Dear Sir/ Madaam,
 
Can I ask a complete list or copy of IFRS and IAS? Please send this to my email address.
 
Thank you very much.

Dear Nilo,
Here’s a link with your request,
http://www.ccdg.gov.sg/frs/index.htm
Regards,

YOU CAN GET ALL THE DETAILS FROM www.iasplus.com

Dear Sir,
Is it Financial Reporting Standard the same with IFRS?
I have a friend who wants to converge its financial statements into IFRS and I want to recommend him to take all FRS file.
Thank you very much.
Best regards,
Didik

DEAR SIR,AS A TRAINER AND FACULTY ON IFRS I CAN HELP YOUR FRIEND IN THE CONVERSION WORK
K.KANAGARAJ

Dear …

Dear All,

As someone could let me know when all European entities should comply with the IFRS reporting format.
Up to now we comply with the LuxGaap or USGaap but I heard that we should report next January 2008 in IFRS.
Have you the article who mentioned this transition ?

Thanks and kind regards
Dominique

 
 
Dear Dominique,Per my understanding all EU entities should comply with IFRS in 2007.
See extract below:
“Currently, the EU has adopted all IFRSs, though one aspect of IAS 39
was modified. The modification affects only a small percentage of EU
banks following IFRSs. Also, EU …

Hi,

 
I  want to know more about IFRS, even though our country doesn’t apply it, but I am sure IFRS will be the leader for accounting world. At  first,  I am thinking of getting US CPA license, but I do not think it will be useful after several years.  please let me know if i am correct? and I want to know if i want to get license related to IFRS, can someone tell me what kind if license is related to IFRS?
and please tell me some information for it.
I appreciate it.
 

Sherry

Hi Sherry, as far …

Dear Ermal
 
I think you can find all the standard relevant to your study in following web.
Hope can help you
 
http://www.ccdg.gov.sg/frs/index.htm
 
Thanks and regards,
 
evon

 
hello
i am  a student from albania ,and i am studing accounting in tne economic faculty,in tirana university.
as part of our subjects we are doing ADVANCED ACCOUNTING,mainly speaking for the new international accounting standarts(IAS) and(IFRS) which are going to be practiced in Albania on january 2008.
It would be very kind of you if you give me more information about this standarts in details in order to be more familiar whith them ,or give …

Forwarded conversationSubject: [IFRS List] IFRS 7 disclosures————————
From: Sandeep Cardoza <cardoza_sandeep@yahoo.co.in>Date: Sun, Oct 28, 2007 at 9:04 AM To: ifrs@ifrslist.com

Hello there
 
i am new to the group !!
 
I work for a trading company and was wonder what a re new disclosures need to made to complie with IFRS 7 as we dont not hold any debts on liablity side 
Best regards,
Sandeep Cardoza

Get the freedom to save as many mails as you wish. Click here to know how.
———-From: Jakub Rutkowski <jakub.rutkowski@wp.pl>Date: Mon, Oct 29, 2007 at 1:12 PMTo: ifrs@ifrslist.com

Dear Sandeep,
 
I …

Hi there, I was wondering if anyone could tell me what part of IFRS deals with internal controls.
 
Thanks!

Well, IFRS standards doesn’t deal with internal control they deal with accounting and financial reporting pronouncements.
What exactly are you looking for related to internal control? Are you trying to comply with international standards? Are you involved in a company that has to comply with SOX? or you’re just trying to develop an internal control environment in your company?
 
If you’re more specific there is a lot of information that you can get online
 
There is …

Hello to everybody,
I want to prepare 31.7.2007-31.07.2008 and 31.07.2007-31.07.2006 cash flow statements.
How can I prapare according to the indirect cash flow method? Which issues should I consider?
Thanks for your help.
Evrim

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